Location: Elkins, W.Va.
Assets: $233 million
Employees: 72
President and CEO: Thomas Derbyshire
Popular among employees: Citizens Bank of West Virginia provides monthly "smile" lunch, surprise or other fun activity, ranging from tailgates to ice cream socials.
Community service initiative: The bank is big on
Sustainability initiative: Used ink and toner cartridges are donated to a local school, which sells them for recycling as a way to raise money for its PTO.
Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.
The contract gives the nation's oldest bank access to more than $3 billion in deposits a month.
The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
A new chief risk officer was among the appointments announced Wednesday, as CEO Michael Rhodes began to put his imprint on Ally.
